Saudi Arabia’s inflation rate 2 percent in Jan, rental prices main driver
Riyadh, Saudi Arabia -- Saudi Arabia's annual inflation rate in Jan 2025 reached 2 percent compared to January 2024, the...
Economy
Business
Shifting dietary trends boost MEA’s protein market
Rise of flexitarian and vegan diets in the region is driving demand for alternative proteins, with the market expected to...
- Rise of flexitarian and vegan diets in the region is driving demand for alternative proteins, with the market expected to cross $2.71 billion by 2029, says a report.
- Disruptive tech leads alternative protein firms' growth, positioning the UAE as a future hub for sustainable food production, adds Data Bridge Market Research.
Business
China Eastern Airlines to operate three weekly fights between Shanghai and Riyadh
Riyadh, Saudi Arabia - The Saudi Air Connectivity Program (ACP) and China Eastern Airlines have entered into a strategic partnership...
- The new route is set to operate with an A330-200 aircraft, offering an annual capacity of 35,880 inbound seats
- Both parties anticipate increased trade, people-to-people exchanges, and dialogues across various sectors through this 'Air Silk Road' initiative
Business
Cryptocurrency Ether witnesses meteoric rise since launch
NEW YORK, US – Bitcoin has captured the limelight in recent weeks as it surged to a new record high, yet...
- Launched in 2015, Ether is by far the second-largest digital currency in terms of total value, now estimated at over $460 billion.
- Bitcoin's rise has been well-documented, but Ether's has been even more impressive, surging almost 72 percent year to date.
Market Report
Non-Jordanian investors own 47% of ASE market value as of February 2024
AMMAN, JORDAN – Data released by the Amman Stock Exchange reveals that non-Jordanian investors bought shares worth US$12.5 million (JD8.9...
- From the beginning of 2024 till end of February, non-Jordanian investments in the stock exchange totaled $21.8 million in purchases.
- The contribution of Arab investors in the non-Jordanian group accounted for US$11.7 million or 93.6 percent in February.
Business
Doctors play key role in enhancing healthcare system
“Emirati doctors play a key role in enhancing the healthcare system and promoting health and wellness throughout society. We look...
- UAE Minister of Health highlights the contributions of Emirati doctors on Emirati Doctor's Day.
- Abdul Rahman bin Mohammad bin Nasser Al Owais praises doctors for their dedication and excellence.
Business
Aramco profit down in 2023
The oil giant posted a 24.7% fall in net profit to US$121.25bn.
- Aramco said the decline reflects the impact of lower crude oil prices and lower volumes sold
- Saudi Arabia said last week it was extending its oil supply cuts of one million bpd through June
Business
Lufthansa cabin crews to go on strike
The announcement came after the airline's record profits.
- The strike will cover flights out of Frankfurt on Tuesday and from Munich on Wednesday, with Lufthansa's subsidiary CityLine also affected
- The latest walkout began last Thursday, with Lufthansa ground staff staging a nationwide two-day strike after a previous walkout in February
Business
Ooredoo partners with Dropbox
It will enable customers to access Dropbox's tools.
- The partnership will enable business customers across Ooredoo’s markets to access Dropbox’s fast, secure, and reliable syncing and collaboration software
- Ooredoo CEO said the partnership with Dropbox underlines the company's commitment to deliver comprehensive digital solutions for their business customers
Business
GCC records surge in women’s workforce participation
Driven by resilience, legislation, and determination, the female populace is reshaping the socio-economic fabric of the Gulf countries, a TRENDS...
- Driven by resilience, legislation, and determination, the female populace is reshaping the socio-economic fabric of the Gulf countries, a TRENDS report suggests.
- This journey from traditional roles to transformative leadership signifies a key moment in GCC's history, setting a global benchmark for gender parity and inclusivity.
Business
Amman Chamber of Industry exports for January-February 2024 reaches $1.3bn
AMMAN, JORDAN - Amman Chamber of Industry (ACI) exports amounted to US$1.3 billion (JD926 million) during the last two months...
- During the first two months of 2024, India, the US, Saudi Arabia and Iraq accounted for the majority of ACI’s exports.
- The chamber's exports to the US surged during the first two months of 2024 to about US$297 million compared to US$275 million.
Saudi Arabia’s inflation rate 2 percent in Jan, rental prices main driver
Riyadh, Saudi Arabia -- Saudi Arabia's annual inflation rate in Jan 2025 reached 2 percent compared to January 2024, the...
Economy
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Waldorf Astoria to open in Madinah by 2028
With more than 300 luxury rooms, three dining concepts, and various facilities, the hotel will merge global luxury with Madinah’s...
Business
Microsoft beefs-up its AI assistant with voice, vision
San Francisco, United States - Microsoft on Tuesday doubled down on deploying artificial intelligence to consumers, releasing an updated version of...
Business
GM reports US sales dip, that of EVs grew
The big Detroit automaker reported 659,601 US sales during the period.
Business
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Business
OpenAI chief technology officer Mira Murati leaving company
San Francisco, United States - OpenAI chief technology officer Mira Murati on Wednesday said she is leaving the company behind ChatGPT,...
- Murati called her more than six years at the San Francisco-based company "an extraordinary privilege" and described her decision to leave as difficult in a post on X
- OpenAI chief Sam Altman replied to Murati's post with his thanks for what Murati has helped the company build, and promised details on a transition plan soon
Economy
No peak oil demand ‘on the horizon’, phaseout a ‘fantasy’: OPEC
Paris, France - OPEC said Tuesday that phasing out oil was a "fantasy", as the Saudi-led cartel forecast that demand would...
- The oil cartel's prediction runs counter to the assessment of the Paris-based International Energy Agency, which sees demand for fossil fuels peaking this decade
- In the group's annual World Oil Outlook (WOO), OPEC Secretary General Haitham Al Ghais said oil and gas make up well over half of the energy mix today
Business
Boeing lifts wage hike to 30%Â
The 30% general wage hike improves upon the 25% in the earlier offer.
- The International Association of Machinists and Aerospace Workers District 751 walked out on September 13, in a strike involving 33,000 workers in the Pacific
- The 30 percent general wage increase improves upon the 25 percent in the earlier offer, which was initially endorsed by IAM leaders